Budget 2018: LTCG tax Effect, Sensex slips 500 points, Nifty below 11000


The BSE Sensex was down by over 500 points at 10:55 am on Friday while NSE was 153 points down at 10,863.

After plunging to a low of 35,006 points in late trades, the sensex closed at 35,067 while the Nifty lost 256 points to close at 10,761.

The BSE market breadth was bearish as 2,548 stocks declined as against 295 advances.


European shares were trading lower for the fifth day running as the USA government bond sell-off entered a second session on optimism over global growth and rising expectations of inflation.

Negative cues from the global markets also hurt sentiment. "Additionally, rising inflation and yield may push the RBI to be more hawkish on interest rate in the coming monetary policy".

Finance Minister Arun Jaitley also projected a fiscal deficit of 3.5 % of GDP for the current fiscal against the earlier target of 3.2 %. As per IANS, the Nifty50 fell by 21.95 points or 0.20 percent to close at 11,027.70 points, while the Sensex closed lower by 68.71 points or 0.19 percent at 35,965.02 points.

Man arrested in Italy in drive-by shootings of foreigners
Public transport in the town which is located about 200km east of Rome has been halted and pupils are being kept in schools. According to Italian news agency ANSA, he made a fascist salute at the city's war memorial before being arrested by police.

Meanwhile, it was a black Friday for the Indian stock markets, which witnessed a bloodbath as panic-stricken traders and investors dumped shares across the board rattled by the budget proposal to re-introduce long-term capital gains tax on equities amid profit-taking due to lofty valuations. The Nifty fell 190.40 points, or 1.73% at the day's low of 10,826.50 in mid-morning trade, its lowest intraday level since 19 January 2018.

The bank stocks were down for the count the most with both Nifty Private Bank and Nifty Public Bank sub-indices trailing more than 2 percent each. "European indices like FTSE 100, DAX and CAC 40 were trading in the red", added Jasani.

European stocks ended Thursday's session in the red, extending losses for the fourth straight session on worries over rising bond yields after US policymakers raised their forecast for inflation.

GROUNDHOG DAY: Will Punxsutawney Phil see his shadow?
Since 1988, the groundhog was "right" 14 times and "wrong" 16 times. "As a Groundhog Ambassador, I spread the word", Smith said. The original Milltown Mel died in July 2015, but his friend took over his name and has carried on with the tradition.

Bajaj Auto (4.90%), Bharti Airtel (4.62%), Axis Bank (4.28%) and Maruti Suzuki India (4.28%) were the top losers.

OnePlus 5T starts receiving stable Android Oreo update with OxygenOS 5.0.2
OxygenOs 5.0.2 brings the fix to the popular Spectre and Meltdown vulnerabilities, as a part of January 2018 security patch. Over the last several months, we have seen several companies decide to add different gestures to its devices.

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